FTSE claims Hong Kong pension fund victories

The battle among index vendors to win the hearts and minds of Hong Kong''s pension funds heats up.

The HK$30 billion $3.8 billion Subsidized Schools Provident Fund has shifted its benchmark for two allocations, a Hong Kong equities and a developed markets fund, from MSCI to FTSE indices, says Mark Makepeace, FTSE's CEO. This latest victory makes it the tenth Hong Kong pension fund with over HK$500 million in assets to start following FTSE indices since last year when FTSE became the benchmark for Mandatory Provident Fund scheme performance measurement, he adds.